A recent survey from Zurich International and Radius Insights finds that 25% of employees have switched jobs in the past year.
By Maggie Mancini
A recent survey from Zurich International and Radius Insights reveals that one in four employees in the United Arab Emirates and Saudi Arabia have switched jobs in the last year, underscoring the importance of retaining talent for employers.
The survey of 2,507 workers and employers in the UAE and Saudi Arabia finds thar 25% of employees have changed jobs in the last year in search of better renumeration, enhanced employee benefits, and opportunities for professional advancement.
In Saudi Arabia, 78% of employees are considering changing jobs, with a similar sentiment shared among their counterparts in the UAE. Both countries face a significant talent shortage, standing that 24% for the UAE and 30% in Saudi Arabia. This shortage is most pronounced within the operations and logistics sectors in both countries.
There is also a gap between what employers offer and what employees wish to receive. One-third of employees in both countries express dissatisfaction with their current employee benefits packages, especially when it comes to workplace savings and financial well-being.
Approximately 84% of employees say they would willingly change jobs for a new role with the same pay but better employee benefits. Employers must adapt to the changing needs by introducing employee benefits that address critical goals valued most by employees, the study finds.
“Employee benefits have taken centre stage and are rapidly evolving, pushing employers to adopt a holistic approach to talent retention,” says Adam Watterson, senior executive officer at Zurich Workplace Solutions. “One of the trending areas is workplace savings and pensions for expatriates concerned about their retirement planning. End-of-service benefits will play a pivotal role in drawing talent from international markets and fostering financial stability. The global pandemic drove both employers and employees to rethink priorities, and employers have become more accommodative to include mutually beneficial retention policies.”